FX.co ★ Actual patterns. Technical analysis and trading recommendations

The Bearish pennant pattern has formed on the AUDJPY M5 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 96.59 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Double Top pattern has been formed on AUDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 96.79 is broken, the downward movement will continue.

The Bullish pennant signal – Trading instrument AUDJPY M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 97.13, with the prospect of the next move being a projection of the flagpole height.

The Triple Bottom pattern has formed on the chart of AUDJPY M30. Features of the pattern: The lower line of the pattern has coordinates 94.65 with the upper limit 94.65/94.63, the projection of the width is 14 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 94.51, the price is most likely to continue the upward movement.

The Triple Bottom pattern has formed on the chart of AUDJPY M15. Features of the pattern: The lower line of the pattern has coordinates 94.65 with the upper limit 94.65/94.63, the projection of the width is 14 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 94.51, the price is most likely to continue the upward movement.